The results included the seventh consecutive decline in HP's quarterly revenue from the previous year. The 10 percent decrease in revenue during the three months ending in April represented the largest drop so far during the downturn.

HP earned $1.1 billion, or 55 cents per share, during its fiscal second quarter. That was down 32 percent from $1.6 billion, or 80 cents per share, last year.

Revenue in the period totaled $27.6 billion, down from nearly $30.7 billion last year.